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Report Date : |
08.11.2014 |
IDENTIFICATION DETAILS
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Name : |
MUASSASA ALJOWZAH AL DAHABIYA EST |
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Registered Office : |
Al Malaz District, P O Box 5263, Riyadh 11422, 9000, Riyadh 11492, Riyadh |
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Country : |
Saudi Arabia |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
23.01.2010 |
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Com. Reg. No.: |
1010280334, Riyadh |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution
of general foodstuffs, textiles and electrical products. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Saudi Arabia |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SAUDI ARABIA - ECONOMIC
OVERVIEW
Saudi Arabia has an oil-based
economy with strong government controls over major economic activities. It
possesses about 16% of the world's proven petroleum reserves, ranks as the
largest exporter of petroleum, and plays a leading role in OPEC. The petroleum
sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of
export earnings. Saudi Arabia is encouraging the growth of the private sector
in order to diversify its economy and to employ more Saudi nationals.
Diversification efforts are focusing on power generation, telecommunications,
natural gas exploration, and petrochemical sectors. Over 6 million foreign
workers play an important role in the Saudi economy, particularly in the oil
and service sectors, while Riyadh is struggling to reduce unemployment among
its own nationals. Saudi officials are particularly focused on employing its
large youth population, which generally lacks the education and technical
skills the private sector needs. Riyadh has substantially boosted spending on
job training and education, most recently with the opening of the King Abdallah
University of Science and Technology - Saudi Arabia's first co-educational
university. As part of its effort to attract foreign Investment,
Saudi Arabia acceded to the WTO in 2005. The government has begun establishing
six "economic cities" in different regions of the country to promote
foreign investment and plans to spend $373 billion between 2010 and 2014 on
social development and infrastructure projects to advance Saudi Arabia's economic
development.
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Source
: CIA |
Company Name : MUASSASA
ALJOWZAH AL DAHABIYA EST
Country of Origin : Saudi
Arabia
Legal Form :
Sole Proprietorship
Registration Date : 23rd
January 2010
Commercial
Registration Number : 1010280334, Riyadh
Membership Number : 215792
Invested Capital :
SR 10,000
Total Workforce : 5
Activities :
Distributors of general foodstuffs, textiles and electrical products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MUASSASA ALJOWZAH
AL DAHABIYA EST
Location : Al Malaz District
PO Box : 5263, Riyadh 11422
9000, Riyadh 11492
Town : Riyadh
Country : Saudi Arabia
Telephone : (966-11) 2768045
Facsimile : (966-11) 2768045
Mobile : (966-50) 6442581
Email : harithamfoods@gmail.com
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Riyadh.
Name Position
·
Ms Shareefah Moeed Al Maliki Proprietor
·
Saeed Rajab Al Maliki General
Manager
Date of Establishment : 23rd
January 2010
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1010280334,
Riyadh
Membership No. :
215792
Invested Capital
: SR 10,000
Ms. Shareefah Moeed
Al Maliki is the sole
proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuffs, textiles and electrical products.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 5 employees.
Financial
highlights provided by local sources are given below:
Currency: Saudi
Riyals (SR)
Year Ending
31/12/12: Year Ending
31/12/13:
Total Sales SR 8,350,000 SR 8,910,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
National Bank (ANB)
King Faisal Street
PO Box: 56921
Riyadh 11564
Tel: (966-11) 4029000
Fax: (966-11) 4027747
No complaints
regarding subject’s payments have been reported.
During the course of
this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
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1 |
Rs.97.39 |
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Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.